CBK licenses 47 additional digital credit providers, total now at 126
- The Central Bank of Kenya has licensed 41 additional Digital Credit Providers, increasing the total to 126.
- This licensing marks a significant milestone in promoting transparency and ethical lending practices in Kenya.
- CBK began accepting applications from digital lenders in March 2022 due to public concerns over predatory practices.
The licensing of additional Digital Credit Providers by the Central Bank of Kenya is a commendable step towards fostering a more ethical and transparent digital lending environment. However, ongoing vigilance is necessary to ensure that these providers adhere to the established standards and genuinely protect consumer interests.
